Financial highlights
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Operating profit from ongoing operations of £286.6 million for the first half of 2013, up 27.8% (first half 2012: £224.2 million) driven principally by lower claims from major weather events and improved cost control, partially offset by lower investment returns |
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Gross written premium for ongoing operations 4.0% lower for the first half of 2013, reflecting competitive market conditions in UK personal lines, partially offset by growth in International |
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Combined operating ratio for ongoing operations of 94.6% for the first half of 2013, an improvement of 6.5 percentage points against the first half of 2012 (101.1%) arising from lower claims from major weather events, continued prior year reserve releases and lower expenses |
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Annualised return on tangible equity from ongoing operations of 17.3% for the first half of 2013 (first half 2012: 10.2%; pro forma full year 2012: 13.4%) |
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Interim dividend per share of 4.2 pence representing growth of 5.0% over pro forma 2012 interim dividend |
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Net asset value per share of 186.9 pence and tangible net asset value per share of 156.6 pence (31 December 2012: 189.1 pence and 161.0 pence, respectively) principally reflecting payment of the 8.0 pence final dividend |
